Free Trial

Catch-Up Bid


A bit of a catch-up bid has developed in ACGBs this morning, with the front end of the curve leading the way, leaving YM +10.5 & XM +6.0. Wider cash ACGBs see 5-10bp of richening with the 3- to 5-Year zone leading. This comes after the belly led the richening of the U.S. Tsy curve during Wednesday trade, with a similar dynamic observed in both Bunds and Gilts (aided by central bank rhetoric from the Fed, ECB & BoE). Swaps lag the move, with 3- and 10-Year EFPs sitting 2.5-3.0bp wider. Bills run 4 to 8 ticks firmer through the reds, with flattening still in play.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story


MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.